Peanut the Squirrel: The Viral Meme Coin that Shook the Market

The Viral Story of Peanut the Squirrel

Peanut the Squirrel (PNUT) is a meme coin created on the Solana blockchain. Its mascot is a squirrel named Peanut, owned by Mark Long, an American mechanical engineer living in New York State.

A video of Mark playing with the squirrel went viral. However, the story ended tragically, the squirrel was taken away from Mark and put to sleep on 10/30.

Elon Musk’s Influence and Political Speculation

The situation caused a certain resonance. Even Elon Musk joined in, commenting on Peanut’s death on social networks.

Since the squirrel died a little before the US elections, and Elon Musk supported Trump, this gave reason to say that the event could even influence undecided citizens and push them to vote for the Republican candidate.

The Birth of PNUT Coin

Peanut, in turn, inspired the creation of the PNUT crypto coin, which immediately took off. On 10/31, the coin price was $0,00008.

On 11/03, the price reached $0,1350, i.e. the growth was about 168,6 thousand percent!

Unprecedented Market Surge: PNUT Coin’s Price Journey

Subsequently, by 11/04, the price rolled back to $0,0306. However, the situation was “saved” by Trump, who won the election, and initially positioned himself as a pro-crypto candidate.

As a result, on 11/06, an absolute maximum of $0,1803 was reached.

Analyzing the Future of PNUT Coin

We doubt that the bulls will be able to repeat this success, since over time, the event with the squirrel may gradually fade into the background, and this kind of pump is unlikely to be repeated.

If we talk about the goal of the current decline, the nearest target may be the $0,0960 mark - this is exactly half of the growth wave from 11/05 to 11/07.